Client News Release
Briefing Book: Don Peebles (at Forbes.com) and Transcript: Don Peebles (at Forbes.com)
City of Industry, CA --(www.FinancialNewsUSA.com)-- 11/18/2008 - Mortgage Investment industry news provided by Financial News USA (OTC: FNWU). R. Donahue "Don" Peebles is chairman and CEO of the Peebles Corp., the country's largest African American-owned real estate development company. Currently, the Peebles Corp., based in Florida, is working with a $4 billion portfolio of completed or underway real estate holdings; the company specializes in developing luxury hotels, high-rise residential and Class A commercial properties across America. Peebles is the author of The Peebles Path to Real Estate Wealth: How to Make Money in Any Market and The Peebles Principles: Tales and Tactics from an Entrepreneur's Life of Winning Deals, Succeeding in Business and Creating a Fortune From Scratch. Growing up in Washington, D.C., Peebles was raised by a single mother and spent afternoons working as a Congressional page on Capitol Hill during his teen years. He took a leave of absence from Rutgers University after his freshman year to join his mother's small real estate business and never returned to school. [Read the full article]
Welcome, I'm Steve Forbes. It's a privilege and pleasure to introduce you to our featured guest, real estate investor R. Donahue Peebles. Don is a successful entrepreneur who is chairman and CEO of the Peebles Corporation. He'll tell us how he expects real estate to bounce back. But first: Democrats gloated as Alan Greenspan "confessed" that his free-market philosophy failed to prevent Global Financial Crisis. This confirmed their view that deregulation caused this whole sorry mess. Baloney. Free markets didn't fail Greenspan, he failed them--specifically by his mistreatment of the dollar. Greenspan treated the greenback like a yo-yo and thus wreaked havoc. Free markets can only flourish with a stable, sound currency. Money needs a fixed measure of value. Stable money means lower interest rates and a lower cost of capital. When this happens investors can focus on opportunities, instead of fearing turbulence wrought by bad policy. [Read the full article]
SAN FRANCISCO, CA--(MARKET WIRE)--Nov 17, 2008 -- Eastern Light Capital, Incorporated. ("ELC") (AMEX: ELC), a specialty lender organized as a real estate
investment trust ("REIT"), announced net income of $5,244 ($0.01 basic and
diluted per share) for the three months ended September 30, 2008, as compared to net loss of $764,368 (($2.01) basic and diluted) for the like period in 2007. ELC also reported net income of $16,610 ($0.04 basic and diluted per share) for the nine months ended September 30, 2008 as compared to net loss of $1,037,328 (($2.72) basic and diluted) for the like period in 2007. ELC filed its third quarter 10-Q with the Securities and Exchange Commission on November 14, 2008. Chief Executive Officer Richard Wrensen noted, "In March 2006 we eliminated sub-prime and Alt-A mortgage originations and investments in order to focus on mortgage sales. In 2007, we focused on asset management and debt reduction. [Read the full article]
(Reuters) - Freddie Mac could post losses totaling $20 billion to $40 billion in 2009, hurt by higher credit costs and write-downs in mortgage assets, an analyst at Friedman Billings Ramsey said. As a result of the losses, the Treasury will have to infuse $30 billion to $50 billion in 2009, and postpone any thoughts of spinning the company back as a publicly traded one till 2010, analyst Paul Miller said in a note to clients.Freddie Mac reported a $25.3 billion quarterly loss on Friday as the housing slump worsened, forcing the second-largest provider of U.S. [Read the full article]
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